FXstreet.com (Barcelona) - The Euro has slide back to trade just above 1.500 key level against the Dollar after reaching highest level since Oct 26 at 1.5045 in the early European session. Currently the pair is trading around 1.5015/25, 0.20% above today's opening price action at 1.4992.
Stoyan Mihaylov, analyst at DeltaStock.com, comments: EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.4134 and 1.3523. The consolidation below 1.5022 has ended at 1.4937 low and the uptrend is renewed towards 1.5124. Crucial on the downside is 1.4970.